home Ratings The essence and principles of distribution of financial resources of an enterprise. Functions of finance How financial resources of authorities are distributed

The essence and principles of distribution of financial resources of an enterprise. Functions of finance How financial resources of authorities are distributed

Introduction

Chapter 1. The essence of finance of organizations

1.1 Concept of organizational finances

1.2 The meaning and functions of an organization’s finances

1.3 Finance of organizations as an object of financial and legal regulation

2.1 Principles of organizing finances of organizations

2.2 Features of the finances of organizations of various legal forms

Chapter 3. Legal regulation of the organization’s finances

3.1 State regulation of the organization’s finances

3.2 Financial legal regulation organizations

Conclusion

List of used literature

Application

Introduction

Subject course work is very relevant for today. A reliable financial system is the core of development and successful functioning market economy and a necessary prerequisite for growth and stability of the economy as a whole.

In the structure of financial relationships National economy the finances of enterprises occupy the initial, determining position, since they serve the main link of social production, where material and intangible benefits are created and the prevailing mass is formed financial resources countries.

Money takes the form of finance, i.e. financial instruments and mechanisms set money in motion, transform it into financial resources, ensuring the continuity of the process of generating and using income of the state, enterprises and households. As noted, Barulin S.V. and Kovaleva T.M., financial resources are the entire set of funds that can potentially be used and are used to carry out financial activities and perform financial (monetary) transactions by business entities and state (municipal) authorities and management.

The purpose of this work is to analyze the finances of organizations as an object of financial and legal regulation; for this it is necessary to solve the following problems:

1. Define the finances of the organization;

2. Analyze the finances of organizations as an object of financial and legal regulation;

3. Determine the features of the organization’s finances, meaning and functions;

4. Show the distribution of the organization’s finances and the legal regulation of the organization’s finances.

The object of the study is financial relations and finance of enterprises in the process of their transformation.

The methodological basis for writing the course work was: Civil Code of the Russian Federation, Budget Code of the Russian Federation, other regulatory and legislative acts, works of domestic specialists V.V. Kovalev and Vit.V. Kovaleva, N.V. Kolchina, L.P. Pavlova, P.I. Vakhrin and others, as well as analytical data from the media and the press.

Chapter 1. The essence of finance of organizations

1.1 Organization finance concept

Information Support financial management of a commercial organization is a significant process of using systematized information, which is aimed at increasing the efficiency of any economic entity, conducting production and commercial activities. Trends in the development of the market situation, such as unpredictable surges in demand, increased price competition in sales markets, diversification and conquest of new market segments, increase risky operations, have an important role in taking into account the specifics of the formation of a unified information field for resolving issues financial management. As a result, there is a need to introduce and consider the essence of the concept of financial and information sphere, which is impossible without clarifying the concept of “finance of a commercial organization.”

Finance (French Finance from Wed - Lat. Financia) translated means cash, income, in a broad sense - cash, money turnover. The concept of “finance” is inextricably linked with money and commodity-money relations.

Finance always has a monetary form. In the conditions of commodity-money relations, there is a continuous process of movement of money, its transfer from one owner to another.

But finance differs significantly from money both in content and in the functions performed, but these are two interrelated concepts.

Let us conduct a study of the content of the concept of “finance of a commercial organization”.

N.V. Kolchina gives the following definition of the finances of a commercial organization: “As an economic category, the finances of an organization are a system of financial or monetary relations that arise in the process of forming fixed and working capital, funds of the organization’s funds and their use. They are of a distributive and control nature and have a direct impact on reproductive process."

In the publication "Finance and Credit" edited by P.I. Vakhrin and A.S. The unsewn finances of a commercial organization represent “a system of economic relations associated with the formation and use of monetary funds and savings for national purposes and financing the costs of the enterprises themselves. In social production they express distributive economic relations. The functions of finance are control and distribution.”

Kovalev V.V. defines the finances of a commercial organization as a general economic category that performs many functions, i.e. dynamic manifestations of their properties and purposes. These functions reveal the essence of finance as one of the most important components organizational structure and the process of functioning of the socio-economic system of one level or another (investment and distribution, fund-forming, income distribution, provision and control functions).

IN textbook"Money circulation and credit" by A.M. Litovskikh and I.K. Shevchenko define “the finances of a commercial organization as an economic category that defines economic relations that reflect the formation and use of funds of funds in the process of their circulation. The essence of finance is manifested in their functions: distribution and control.”

Sheremet A.D. in the process of financial management, he identifies the following main functions of finance of a commercial organization, which are reflected in the financial mechanism of the organization: distribution, redistribution, reproduction, control, incentive, regulation.

Senchagov V.K. and Arkhipov A.I. believe that “the finances of a commercial organization reflect the relations of enterprises with other subjects of economic life regarding cash flows in the process of production and sales of products, the formation of their own and attraction external sources funds, their distribution and expenditure. The result of this interaction is the mutual provision of financial resources, providing each sector of the economy with the opportunity to implement its functions."

1.2 The meaning and functions of an organization's finances

finance regulation planning monetary

Professor Rodionova V.M. believes that the conditionality of part financial relations factor of the existence of the state does not provide grounds for considering its activities as the cause that generates finance. In her opinion, a prerequisite for the functioning of finance is the availability of money, and the reason that gives rise to its appearance can be considered the needs of business entities and the state for resources that support their activities.

However, there is another factor without which finance cannot function. This is social reproduction, with its continuously repeating and interconnected cycles. Currently, almost all economists recognize the need for finance and its important role in the performance of its functions by the state.

However, the question of the essence of finance and the boundaries of its distribution remains unclear.

As economic categories, finance and money differ in the ways of their existence and are related to each other as form and content, but from a practical point of view, financial and monetary relations find their material embodiment in a single form of movement of financial resources." Financial resources of the state are funds of funds, at the disposal of the state, enterprises and the population, intended to ensure expanded reproduction and national needs or funds accumulated by the state and economic (economic) entities.

Money is a special kind of commodity that spontaneously emerged from the general mass of goods. Its peculiarity is that it essentially represents a universal equivalent with the help of which the labor costs of producers are measured. The primacy of money in relation to finance is beyond doubt, either historically or economically. When considering money and finance, their main difference lies in their functions. Money has a function as a measure of value, as a means of circulation, as a means of payment, as a means of accumulation and savings, as a function of world money, i.e. money is the antipode of a commodity - a universal equivalent and functions as a symbol of value. The monetary sphere is a system cash flows, i.e. system of monetary support and servicing the economy, where all cash flows - financial, credit, flows money circulation are the basis for the movement of money.

This distinction is important, since the financial activity of private economic finance is any activity related to attracting sources of financial resources and generating income, making current and investment expenses, fulfilling tax and other debt obligations, any other monetary transactions of these entities aimed at achieving economic effect. So finance commercial organizations form the basis of the country’s finances, where part of the financial resources is generated and the general financial condition of the country depends on the state of finances of commercial organizations.

Thus, money takes the form of finance, i.e. financial instruments and mechanisms set money in motion, transform it into financial resources, ensuring the continuity of the process of generating and using income of the state, enterprises and households. As noted, Barulin S.V. and Kovaleva T.M., financial resources are the entire set of funds that can potentially be used and are used to carry out financial activities and perform financial (monetary) transactions by business entities and state (municipal) authorities and management.

Thus, it is clear that there is no consensus among economists regarding the functions of finance of a commercial organization. There is unity in only two functions: distribution and control.

The distribution function of the finances of a commercial organization, from the position of the structure of its assets, is manifested in the desire to optimize the active side of the balance sheet.

The essence of the control function is that it is with the help of financial indicators and (or) indicators built on their basis that the most effective control over the effective use of resource potential commercial organization.

An important function of the organization’s finances is the optimization of the right, passive side of the balance sheet, which can be called the source side.

The process of formation, distribution and use of funds and financial resources must be regulated, planned, controlled, etc., which is impossible without the use of certain methods and tools, which are reflected in financial management, which involves the adoption and implementation of investment and financial decisions, in ultimately comes down to managing its financial flows.

It follows that combining the concepts of financial and monetary relations is not correct (as in the concept of N.V. Kolchina), because monetary relations are a form of directed movement of funds between business entities.

Financial relations are relationships between entities that entail a change in the composition of assets and liabilities, taking into account changes in the financial position of the organization.

The main functions of a commercial organization, determined by the market: at the level of the real process - procurement, supply, production and sales, at the level of the monetary process - their financing. Thus, two markets - financial, purchase and sale (sales) - constitute the main economic levels of the organization’s activity and which imply economic relations that are used in their concepts of “finance of commercial organizations” by such authors as P.I. Vakhrin. and Neshita A.S.

To implement the finance functions of a commercial organization, it is necessary to have financial information, which should be based on the following properties: systematization, timeliness, convenience.

From the point of view of the information approach, the author clarifies the concept of finance of a commercial organization as follows: these are financial relations reflecting the movement of financial resources and funds based on the unified movement of financial and information flows in the process of their formation, distribution and use.

Thus, it is obvious that any financial management decision can be implemented in the process of activity when provided with appropriate funds.

That is why the information aspect plays a decisive role, where the finances of a commercial organization are the object of the organization’s management process. In practice, financial management comes down to managing the finances of a commercial organization based on methods and tools in the organization’s information space in order to maximize the material well-being of the organization’s owners. Consequently, establishing information support for the financial management process of an enterprise is one of the primary tasks of the organization’s management. Definition of information as economic information resource presupposes the existence of economic objects in which this resource is used.

Information is a type of causal relationship that arises in the management process. Thanks to it, the control system carries out the influence of the control system on the controlled one (direct connection) and the reverse influence of the controlled system on the control one (feedback).

Based on the reflected relationships economic information represents information about relations between people regarding the production, distribution, exchange and consumption of a social product, information about production (economic) relations. Therefore, financial information is all information in the field of finance of a commercial organization that needs to be generated, transmitted, stored and processed for use in management.

Commercial organizations in the process of their economic activity enter into various financial relationships with counterparties in the production and financial-credit spheres, including with state financial institutions. The consequence of such relationships is changes in the composition of the assets and liabilities of a commercial organization, affecting its financial condition. This relationship assumes that in the process of financial relations into which a commercial organization enters with various entities, there is a movement of financial flows, reflected in changes financial condition at certain points in time, information about which is generated from external and internal sources in the financial and information sphere of a commercial organization.

In the explanatory dictionary T.F. Efremova interprets the word sphere as the limits of the spread of something. V. Dahl gives the following interpretation of this word: "...atmosphere, the distance of the outskirts of a body, the space over which forces, influence, or connection of this body encroach, the circle of action." Applying the above to the topic of our research, it can be argued that finance (on a global scale) is the entire area of financial processes, which is divided into the finances of various entities (public and private finance), i.e. it is possible to establish the existence of certain limits to their distribution. This means that in an organization, the area of distribution and use of financial information is limited to the financial information sphere, which interacts with other areas of finance.

Planning is the process of developing information and adopting goals. Analysis is the decomposition of information obtained at the accounting stage into components, study, research and evaluation of these components for making subsequent management decisions. At the decision-making stage, alternative information is selected. In the process of control, based on financial information, an analysis of the implementation of decisions made is carried out.

1.3 Finance of organizations as an object of financial and legal regulation

Using the logic of reasoning of representatives of the Anglo-American school, finance can be defined as a set of financial objects and methods of managing them.

Financial objects are understood as financial assets and obligations, and their management means a system for organizing their effective functioning. Structurally, it is expressed in the creation in the country of a certain financial system public finance y bodies and institutions, financial institutions and markets, and its functioning is carried out by applying to financial objects various financial methods and instruments.

Financial relations cover two areas, the first area is the one in which economic monetary relations are associated with the formation and use of centralized state monetary funds accumulated in the state budget system and government extra-budgetary funds. The sphere of decentralized finance, where economic monetary relations mediate the circulation of funds of enterprises. Financial objects are understood as financial assets and liabilities, and their management means a system for organizing their effective functioning. Structurally, it is expressed in the creation in the country of a certain financial system of state financial bodies and institutions, financial institutions and markets, and its functioning is carried out by applying various financial methods and instruments to financial objects. This distinction is important, since the financial activity of private economic finance is any activity related to attracting sources of financial resources and generating income, making current and investment expenses, fulfilling tax and other debt obligations, and any other monetary transactions of these entities aimed at achieving an economic effect. Thus, the finances of commercial organizations form the basis of the country’s finances, where part of the financial resources is generated and the general financial condition of the country depends on the state of the finances of commercial organizations.

CM. Barulin and T.M. Kovalev divides the spheres of the financial system into centralized and decentralized due to the peculiarities of the functioning of each of them, differences in the methods of distribution and use of funds and, consequently, a special role in the financial system.

The financial system is characterized by the movement of financial resources, cash flows connecting the subjects of financial relations and implementing cash settlements between them. The country's financial system has developed external and internal connections in the form of direct and reverse financial flows that establish relationships between the country, banks, country organizations, funds, etc.

Rice. 1. The composition of the Russian financial system.

Finances are carriers of distribution relations; this distribution occurs primarily between various economic entities.

In our opinion, this distinction is important, since the financial activity of private economic finance is any activity related to attracting sources of financial resources and generating income, carrying out current and investment expenses, fulfilling tax and other debt obligations, any other monetary transactions of these entities aimed at achieving economic effect.

Financial law rules in Russian Federation are numerous, they are contained in large number various legal regulations, or sources of financial law. These include acts of representative and executive bodies of state power and local government different scales and levels. The sources of financial law are: the Constitution of the Russian Federation, Codes of the Russian Federation (Civil Code, tax code, Budget Code), laws, Presidential decrees, Government resolutions, acts of government bodies, departmental regulations, orders, instructions, etc.

The need for financial control is determined by life itself. In his work “Constitutional foundations for the formation of the state

financial control in the Russian Federation ( federal system GFK)" Candidate of Legal Sciences E.P. Kirikov makes an interesting conclusion that in the era of the dominance of commodity-money relations, the use of materials, raw materials, energy and other types of public resources is mediated by monetary relations.

Within the meaning of the above provisions of the Constitution of the Russian Federation and the Federal Law "On the General Principles of Organization of Legislative (Representative) and Executive Bodies of State Power of the Subjects of the Russian Federation" in their interrelation, the law of the constituent entity of the Russian Federation may establish a procedure for managing and disposing of the property of a given constituent entity of the Russian Federation, including provision for participation in this process the legislative body of the constituent entity of the Russian Federation.

The problem of determining the legal essence of state property is not resolved in the Resolution of the Plenum of the Supreme Arbitration Court of the Russian Federation dated February 25, 1998 No. 8 “On some issues in the practice of resolving disputes related to the protection of property rights and other property rights.”

Paragraph 3 of the resolution provides that the subjects of federal, state and municipal property rights are the Russian Federation, the relevant constituent entities of the Russian Federation, municipalities for the property transferred into their ownership in the manner established by Resolution of the Supreme Council of the Russian Federation of December 27, 1991 No. 3020-I.

Thus, arbitration courts received official recommendations from the Supreme Arbitration Court of the Russian Federation to directly apply Resolution of the Supreme Council of the Russian Federation of December 27, 1991 No. 3020-I when deciding on the level of ownership. These recommendations are mandatory for use arbitration courts of all authorities.

The implementation of the Federal Law of November 30, 2011 No. 371-FZ “On the Federal Budget for 2012 and for the Planning Period of 2013 and 2014” (hereinafter referred to as the Federal Law of November 30, 2011 No. 371-FZ) took place in the context of a slowdown economic growth against the backdrop of maintaining at a relatively high level of world prices for a number of main Russian export goods (energy resources), low unemployment, rising consumer prices in the middle of the year, as well as continued capital outflow from the country and high volatility of the exchange rate dynamics of the ruble against the US dollar with an unstable state of the world economy.

Financial control of legislative (representative) authorities or external financial control consists of control and accounting bodies, regardless of their name and structure, but accountable to legislative and representative authorities (the Accounts Chamber of the Russian Federation, Control and Accounting Bodies of the constituent entities of the Russian Federation and municipalities);

The basis of auditing activities as a form of financial control is the Federal Law “On Auditing Activities in the Russian Federation”. At the same time, as Yu.V. rightly notes. Tyurin, “budgetary control can be divided into types depending on the bodies implementing it:

1) presidential budget control;

2) parliamentary budget control is budget control carried out by bodies of legislative (representative) power (clause 3 of Article 265 of the Budget Code of the Russian Federation). This type of control is called external financial (budgetary) control (Article 264.4, 264.9 of the Budget Code of the Russian Federation);

3) budgetary control carried out by executive authorities and local administrations of municipalities. This type of control is called internal financial (budgetary) control or audit (Article 270.1 of the Budget Code of the Russian Federation)."

Chapter 2. Distribution of the organization’s finances

2.1 Principles of organizing finances of organizations

The financial and information sphere ensures the connection of financial condition indicators in the financial management system of a commercial organization. It represents accounting, planning and reporting information on the reactions of the financial condition to the control actions of the governing body.

Finances are carriers of distribution relations; this distribution occurs primarily between various economic entities.

The effect of the influence of the financial and information sphere on the financial condition is based on the implementation of the following principles:

Integration with common system management of the organization. In any field of activity, when making a management decision, it must affect the cash flow and the results of economic activity.

This means that production, investment, personnel, supply and other types of management are interconnected in the organization;

Assessment of the complex of solutions being developed in the field of finance of the organization. Any management decision on the formation, distribution and use of an organization’s finances has an impact on the financial condition and, consequently, on a set of intra-company indicators;

Fast control. A commercial organization operates in conditions of rapid changes in external and internal operating conditions. Management decisions are made taking into account the existence of real factors. The financial information flow on which the assessment of financial condition is based must be timely for decision-making;

Variant approach in the process of developing solutions;

Focus on the operational goals of the organization's development.

Money is a special kind of commodity that spontaneously emerged from the general mass of goods. Its peculiarity is that it essentially represents a universal equivalent with the help of which the labor costs of producers are measured. The primacy of money in relation to finance is beyond doubt, either historically or economically. When considering money and finance, their main difference lies in their functions. Money has a function as a measure of value, as a means of circulation, as a means of payment, as a means of accumulation and savings, as a function of world money, i.e. money is the antipode of a commodity - a universal equivalent and functions as a symbol of value. The monetary sphere is a system of cash flows, i.e. a system of monetary support and servicing the economy, where all cash flows - financial, credit, cash circulation flows are the basis for the movement of money.

Main indicators of socio-economic development of the Russian Federation for 2011 - 2012 (rates of growth, decline (-) physical volumes, % to previous year) 2011, 2012-15, when the expansion of domestic demand was satisfied to a greater extent through the import of goods and services. If in 2011 the increase in domestic demand was covered by more than half (51.9%) by the import of goods and services and by 48.1% by the increase in domestic production, then in 2012 the increase in domestic demand was covered by the import of goods and services by 44.6%, and due to the increase in domestic production - by 55.4%. At the same time, dependence national economy from imports continues to remain significant.

In the structure of used GDP, the share of gross accumulation increased and amounted to 25.7% (in 2011 - 25.1%). At the same time, the share of gross fixed capital formation increased to 21.8%, or by 0.4 percentage points, compared to 2011, and the share of the indicator “change in inventories” increased to 3.9% compared to 3.7 % in 2011.

Financial objects are understood as financial assets and liabilities, and their management means a system for organizing their effective functioning. Structurally, it is expressed in the creation in the country of a certain financial system of state financial bodies and institutions, financial institutions and markets, and its functioning is carried out by applying various financial methods and instruments to financial objects.

Thus, the finances of commercial organizations form the basis of the country’s finances, where part of the financial resources is generated and the general financial condition of the country depends on the state of the finances of commercial organizations.

Obviously, the listed functions have the same nature and role in their content - providing the necessary sources of financing for the organization's activities. The financial functions of a commercial organization can be realized only with the help of certain methods and tools.

One of the signs of the finances of a commercial organization is their monetary form of expression and the reflection of financial relations (having documentary evidence) through the real flow of funds, as well as their legal regulation by the state.

Financial resources occupy a significant place in the financial system of a commercial organization. Financial resources are a balance sheet asset (includes not only cash). Sources of financial resources are a liability on the balance sheet.

Thus, financial resources must be supplemented that this is a static concept that characterizes the presence of monetary funds in a business entity, and their movement is financial relations.

Thus, in the conditions of development and functioning of an enterprise, information support for regulating the financial condition, which should become better and more comprehensive, becomes of great importance, since the lack of necessary information, the use of unreliable or irrelevant data are the cause of serious miscalculations in the process of financial and economic activities of the organization , and the financial and information sphere will reduce uncertainty when making management decisions.

2.2 Features of finance of organizations of various organizational and legal forms

A distinctive feature of enterprise finance is its dependence on the legal form of their organization. Organizational and legal forms of management predetermine various features of the organization of finances of enterprises: the sources and procedure for the formation of the authorized capital, the system of profit (income) distribution, relationships with the budget, etc.

Classification of organizations by forms of ownership:

1. Business partnerships:

On faith.

2. Business companies:

Limited Liability Company (LLC);

Open Joint Stock Company (OJSC)/Closed Joint Stock Company (CJSC);

Additional liability company (ALS).

3. Production cooperatives;

4. Unitary enterprises:

State;

Municipal.

Depending on the chosen organizational and legal form, enterprises can be created in different ways, use different amounts of authorized capital, different ways of mobilizing additional resources and guaranteeing the interests of creditors.

Full partnership is a voluntary association of individuals or legal entities who are engaged in entrepreneurial activities in accordance with the constituent agreement concluded between them and are responsible for the property belonging to them. Authorized capital is created through the contributions of participants and is a share capital. Participants in a general partnership bear full responsibility for the obligations of the partnership.

Limited partnership (limited partnership) - a partnership in which participation is expected in addition to the full participants of the partnership, participant-investors (limited partners). The procedure for formation is similar to the procedure for its formation in a general partnership. Management of the partnership's activities is carried out only by general partners; investors do not take part in management, but are a kind of investors.

LLC is a legal entity established by one or more persons, the authorized capital of which is divided into shares. The participants of an LLC, unlike other forms, are not liable for its obligations, and do not bear the risk of losses associated with the activities of the company, solely within the value of the share contributed by them.

JSC is a voluntary association of funds of individuals and legal entities or shareholders, each of whom bears financial responsibility for the results of the activities of the JSC within the limits of the nominal value of the shares owned by it.

The peculiarity of the JSC is that the formation of the authorized capital is carried out through the sale of shares in the form of open subscription and free circulation of shares on the market. The CJSC distributes its shares only among its founders, i.e. by closed subscription.

ALC is a business company established by one or more persons, the authorized capital of which is divided into shares of certain constituent documents sizes; participants bear joint liability for its obligations with their property in the same multiple of the value of their contributions. In the event of bankruptcy of one of the participants, his additional liability for the obligations of the company is distributed among the remaining participants in proportion to their contributions.

A production cooperative is a voluntary association of citizens on the basis of membership for joint production or economic activities (production, processing, marketing of industrial, agricultural or other products, performance of work, trade, consumer services, provision of other services), based on their personal labor and other participation and association of its members (participants) of property shares. Profits are distributed among PC members in accordance with their labor participation. A legal entity can also be a participant in a production cooperative.

Unitary enterprises are an organization that is not vested with the right of ownership of the property assigned to it by the owner (metro). The State Property Committee of the Russian Federation has adopted a classification of unitary enterprises based on the right of economic management. An enterprise with the right of operational management is a unitary enterprise based on the right of economic management, established by authorized bodies of state or municipal government, which presupposes state or municipal ownership of the property of the unitary enterprise. It is obliged to answer for obligations arising from its production and commercial activities with all the property belonging to it, but at the same time is not liable for the obligations of the owner of the property. The decision is made by the government of the Russian Federation. The property of the enterprise is in state ownership.

Chapter 3. Legal regulation of the organization’s finances

3.1 State regulation of organization finances

State regulation is a legislatively formalized system of external influence on the finances of enterprises. In this aspect, the system of external influence on the finances of enterprises means the main directions government regulation and the corresponding tools for their implementation.

The main directions of state regulation of financial and economic activities of enterprises are:

1) establishing the basis for the functioning of the tax system;

2) regulation of pricing;

3) impact on foreign economic activities of organizations;

4) organization of money circulation and forms of payment;

5) organization of circulation valuable papers;

6) budget financing, provision of state guarantees;

7) composition and competence of government bodies in resolving financial issues, etc.;

According to I.V. Ershova, for a correct understanding of the essence of the financial relationships of business entities with the state, it is necessary to analyze in detail the legal and economic mechanism of the formation of these relations. For these purposes, it seems justified to find out, first of all, the reasons that prompt the state, represented by its legislative and executive bodies, to imperatively regulate the procedure for the formation of financial results, the list of mandatory payments made by the enterprise at the expense of cost and profit, the order of these payments, the implementation of the responsibility of enterprises to the state and counterparties , the procedure for maintaining and presenting accounting and statistical reporting.

The public interest of the state in regulating the finances of organizations lies in the need facing the state to form revenue part your budget. Its main part is formed from tax payments, including those paid by enterprises (about 80-90% of state budget revenues, 50% of municipal budget revenues), i.e. The need for state regulation of the financial and economic activities of enterprises lies, first of all, in the fiscal interests of the state itself. Indeed, only relying on the fact that the enterprise correctly, in strict accordance with regulations, determines the profit received and the costs of production and makes the appropriate deductions, will the state, represented by the competent authorities, be able to form the revenue side of its budget.

The public interest of the state in the correct formation of financial relations with an enterprise is also predetermined by the fact that the functions of the state include regulating and controlling prices for certain types of goods and for individual enterprises (for example, subjects of natural monopolies), as well as establishing appropriate relationships between markups and wholesale or retail prices in the event that enterprises independently form free prices for their products. In the pricing process, it is necessary to determine the monetary value of the product. The price of a product is based on the production price and fluctuates depending on supply and demand.

State extra-budgetary funds that accumulate funds from legal and individuals for the purpose of their further use in the interests of society as a whole. This is the public interest in the formation of the finances of the enterprise. Ultimately, the legislator establishes a unified mechanism for generating the financial results of an enterprise and, with its help, determines the amount of taxes paid from profits. Expressing the public interests of society in the correct formation of financial relations between an enterprise and the state, off-budget specialized state funds act as recipients of payments due to them and have the right to receive them from enterprises.

There is a private interest of the enterprises themselves in the correct formation of their finances. Enterprises are interested in correctly determining the amount of required contributions to the state budget and extra-budgetary funds, in general, are also interested in the existence of uniform rules of conduct when carrying out financial and economic activities. In case of violation of the rules established by law for determining the amount and procedure for making contributions to state and public needs, the enterprise may experience negative consequences, expressed in the imposition of penalties on its finances by the authorized bodies. In addition, disproportionate costs directly affect the financial condition of the enterprise. For example, when labor costs included in the cost of production are overestimated, the deductions made by the enterprise for social needs also increase, which together leads to a general increase in the cost of production. In conditions of fierce competition among producers of goods, an increase in production costs and prices of goods cannot but affect their competitiveness, sales and profit from the sale of products (works, services). On the other hand, the need to formulate costs in accordance with established rules becomes obvious in the process of pricing and the application of prices and tariffs by enterprises.

This distinction is important, since the financial activity of private economic finance is any activity related to attracting sources of financial resources and generating income, making current and investment expenses, fulfilling tax and other debt obligations, and any other monetary transactions of these entities aimed at achieving an economic effect. Thus, the finances of commercial organizations form the basis of the country’s finances, where part of the financial resources is generated and the general financial condition of the country depends on the state of the finances of commercial organizations.

Thus, the combination of private and public interests necessitates careful and detailed regulation of the financial relations of an enterprise with the state.

3.2 Financial and legal regulation of the organization

Financial and legal regulation is aimed, first of all, at streamlining the relations arising in the sphere of financial activities of the state and municipalities, i.e. activities aimed at the formation, distribution and use of centralized and decentralized monetary funds for public purposes.

Finances are carriers of distribution relations; this distribution occurs primarily between various economic entities.

The development of the Russian economy in 2012 was influenced by the following external and internal factors:

A significant slowdown in the growth rate of world prices for a number of main Russian export goods (energy resources), while maintaining prices at a relatively high level;

Relatively high level of consolidated external debt of the Russian Federation;

Decrease in domestic investment demand during the year;

Decrease in the influx of foreign investment into the non-financial sector of the Russian economy;

Slowdown in the growth rate of domestic consumer demand;

Increased exchange rate volatility national currency during a year;

A significant volume of capital outflow from the country observed in

over the past five years.

Thus, financial resources must be supplemented that this is a static concept that characterizes the presence of monetary funds in a business entity, and their movement is financial relations.

Professor N.I. Khimicheva understands a subject of financial law as a person who has legal personality, i.e. potentially capable of being a participant in legal relations, since it is endowed with the necessary rights and obligations.

All subjects of financial law can be combined into three groups of subjects:

1) the state and its territorial divisions;

2) collective subjects;

3) individual subjects.

Enterprises, organizations and institutions belong to the group of collective subjects of financial law along with state authorities and local governments.

According to M.V. Karaseva, Russian organizations as subjects of financial law realize themselves in the following financial legal relations: a) regarding the preparation of a draft budget (budget process); b) regarding obtaining budget loans; c) regarding receipt of funds from government off-budget funds; d) regarding the payment of taxes and non-tax payments; e) regarding the formation of on-farm funds of state-owned enterprises and the transfer of the free balance of profits to the budget; f) regarding the transfer to the budget by a unitary (with the right of economic management) enterprise of part of the profit to the budget; g) regarding the performance of duties of tax agents, etc.

Thus, the subjects of financial law in relations regarding the preparation of a draft budget (estimate process) and the receipt of budgetary allocations are mainly organizations acting as budgetary institutions. This conclusion follows from the analysis of annually adopted budget laws for the coming financial year, where the final recipients of budgetary allocations are medical, educational, socio-cultural and other government institutions. In our opinion, their financial legal personality in relation to the estimate process and receipt of budgetary allocations is determined both by the quality of the legal entity and the very status of the budgetary institution.

Consider income and expenses

Does money disappear without a trace? Get a special program for budgeting, create it yourself, or buy a notepad. To create a monthly budget, you will have to write down all your expenses for six months, so you can average it out and figure out how much of your income you can save to make your dreams come true. Income includes:

Salary: yours and your significant other’s (if you have one);
Additional part-time jobs (good material: and +);
Outside help (parental, sponsorship, etc.).

Record everything, down to the smallest detail. Additionally: .

Eliminate unnecessary expenses

A lot of useless little things eat up up to 40% of the budget. “Snacks” in the form of chips, salty crackers and cookies also spoil your health. The eerie earrings, bought in frustrated feelings, are thrown into the far corner of the box. The “magic” vegetable cutter is gathering dust in the corner - you don’t cook enough to use it. Men are guilty of loving new gadgets, changing their phone every year and purchasing another tablet. What about bad habits? A smoker spends about 600 USD on cigarettes. in year! Plus the cost of treatment, which will be needed sooner or later...

Keeping a list of your expenses will help you identify unnecessary expenses. Ask yourself: “Why do I need this?” when your gaze once again falls on an item of dubious necessity.

An important nuance: expenses for children (if you have them) are not considered unnecessary expenses. In addition to the essentials for them, include a “pampering” section in your budget. Pleasant surprises, joint outings to the movies and nature, and (sometimes) chocolates will not only please the kids, which is priceless in itself. Properly presented, they will lay down the need to care for your neighbor. And when old age comes, your children will delight you.

Record your main expenses

Before purchasing an unplanned item, subtract from the amount total income basic expenses. These include:

Payment for the apartment and public utilities. If you have your own apartment, it is not recommended to relax: financial planners advise setting aside an amount every month that you could spend on rented housing. It is not at all included in “free money” - later you will be able to buy a new apartment with the savings and rent it out, or give it to your grown-up children;

Amount for food for the whole family (or you personally if you live alone);
Expenses for a kindergarten, sports club, tutor for a child, etc.;
Clothes and shoes that you cannot do without, as well as personal hygiene products and household chemicals;
Gifts for loved ones if a holiday is approaching (here it is best to get an envelope and put some amount into it every month, as a result, for the holidays you will not have to cut other expenses to buy gifts).

Subtracted? The remainder is "free". It is advisable to spend it at the end of the month, on the eve of the next financial injection. Or put it aside. Save for something: starting your own business, a new apartment, a car. Yes, at least for a chic winter coat! The main thing is that the goal must be realistic.

A nuance: spontaneous purchases are real happiness for many. A financial diet, like a regular one, allows you to “zigzag” - it is important to feel moderation.

There are many options for income distribution, here is another very effective one:

50% - current expenses;

10% - “just in case fund”;

10% - savings;

20% - investments;

10% - savings for large purchases, vacations, cars.

Ensure financial circulation

It is considered normal if a person (family) can afford to save 10-25% of their income, and in their “piggy bank” they have an amount that allows them to live at their usual level for six months. Ideally, the “piggy bank” is invested in the business (for example), and, in turn, generates income. Is it still far from ideal? Start small: when writing down your expenses, get rid of, if possible, unnecessary expenses - you probably have them. Get involved in your own future. Is it worth it, for example, to wait for “sea weather” while registering with the employment fund, if you can start earning money now? Even if without work, an apartment bought after n number of years will provide you more accurately than a modest pension!

- Some things should be taken care of in advance.

The basics of planning personal finances and family budgets that we have listed will help you as soon as possible sort out everyday problems. You will be surprised to discover the presence of free funds (even if small at first) and improve relationships with loved ones (most family quarrels are related to money). Let's start planning right now?

- from inflation, from thieves, etc. Details: .
- let's fantasize?
and (various subtleties)?

For the occurrence finance As a sphere of economic relations, it is necessary for the emergence and coincidence in time at a certain historical stage of a whole set of conditions (or prerequisites), such as:

education and recognition of individuals for goods, services, land, etc.;
the existing system of legal norms regarding property relations;
strengthening the state as a spokesman for the interests of the entire society, acquiring the status of owner by the state;
the emergence of socially diverse population groups.

All these conditions arise under one general prerequisite: a sufficiently high level of production, an increase in its efficiency, growth and exceeding the limits necessary for biological survival.

The formation, distribution and use of monetary income is the main condition for the emergence of finance.

Financial interests are the interests of the owners of monetary income.

For the emergence of finance, a high level of development of the monetary economy, a constant circulation of money in large quantities, and the formation and use of the basic functions of money are also necessary. Finance- is the movement of cash income. Financial relations always affect property relations. These are not only monetary relations, but also property relations. The subject of economic relations must always be the owner. It is by distributing and using cash income, of which he is the owner, that each participant in economic relations can realize his interests.

Financial resources

No economic or political decision of any importance can be implemented without a preliminary assessment of the amount of monetary income required for this. The distribution and accumulation of monetary income acquires a targeted character. The concept of “financial resources” arises. Being monetary income, accumulated and distributed for certain purposes, financial resources are used for various social, economic, scientific, cultural, political and other purposes (Fig. 18).

Financial resources- These are accumulated incomes intended for specific needs.

Rice. 18. Main directions of use of financial resources

Financial resources serve all stages of the movement of cash income from their formation to use.

Since finances are determined by the movement of cash income, the patterns of their movement affect finances. Income usually passes through three stages (stages) in its circulation (Fig. 19):

Rice. 19. Stages of cash flow (finance)

Finance, as we see, relates to all stages of the formation, distribution and use of monetary income. Primary income are formed as a result of the sale and distribution of proceeds from the sale of goods and services. Since the production process is, as a rule, continuous, it is necessary to allocate part of the proceeds at the stage of sales of goods to ensure the continuity of the production process.

Primary income is formed as a result of expanded commodity production and is serviced by finance.

Rice. 20. Process of expanded reproduction

Primary distribution is the formation of primary income based on gross receipts.

Secondary distribution of monetary income (redistribution) can occur in several stages, that is, it is of a multiple nature.

As can be seen from the schematic recording of the abstract production process (Fig. 20), any production ends with the primary distribution of monetary income, without which further economic development. And the distribution of money income ( D") is served by finance. The allocation of financial resources for the expansion of production takes the following forms: payment of current material costs, depreciation of equipment, rent, interest on loans, wages of workers employed in this production. After the primary distribution of monetary income, the processes of redistribution begin, i.e., the formation of secondary income. These are primarily taxes, contributions to insurance funds, contributions to social, cultural and other organizations.

Last stage distribution and redistribution of income - their implementation. Realizable income called final. Part of the final income may not be realized, but directed towards accumulations and savings. However, there is the following financial equality, which is not violated under any circumstances:

ΣA = ΣB + ΣС,

A- primary income;
IN— final income;
WITH- savings and savings.

The distribution process is influenced not only by finances, but also by prices.

Since the process of selling any goods (goods, services, etc.) into monetary income is carried out at certain prices, then price dynamics has an independent impact on the distribution process. The more prices change (both up and down), the more money income fluctuates. These shifts occur especially sharply in conditions of inflation.

Financial resources as part of cash income come in various forms. For the real sector of the economy (production) this is part of the profit, for the state budget - the entire amount of its revenue part, for a family - all the income of its members, etc.

Financial resources- this is that part of the funds that can be used by their owner for any purpose at his discretion.

The process of distribution and redistribution of financial resources

Financial resources are offered on the market by a large number of business entities and the population. It is clear that potential users (consumers) of these funds are not able to independently establish business relationships with every business entity, with every citizen. In this regard, the problem arises of combining scattered savings into significant amounts of financial resources that can be offered for use by a large potential investor.

This problem is solved financial intermediaries (banks, investment and mutual funds, investment companies, savings associations and
etc.), which accumulate free resources, primarily from the population, and pay interest on these resources. Financial intermediaries provide raised resources as loans or place them in securities. Their income consists of the difference between the interest paid on the resources attracted and the interest received on the resources provided.

Owners of cash savings can transfer their funds to investment companies, or they can directly acquire industrial corporations. But in the second case, they will encounter intermediaries - dealers And brokers, which represent professional participants in financial markets. Dealers carry out transactions independently, on their own behalf; brokers act only on behalf of clients and on their behalf.

Timely financial market offers potential investors wide investment opportunities through the acquisition of monetary obligations of a wide range of business entities. These monetary obligations are called financial instruments. These include: , IOUs, futures contracts, etc. Variety financial instruments allows owners of funds to diversify their investment portfolio, i.e., invest their savings in the obligations of different companies and banks. These obligations will have different returns, but also different degrees of risk. If a company goes bankrupt, investments in other companies will remain. Diversification investment portfolio is carried out according to the principle: “you can’t put all your eggs in one basket.”

Financial relations as a sphere of economic activity

Financial relations- these are relations associated with the distribution, redistribution and use of monetary income.

The phenomenon of financial relations as a sphere of economic relations in society arises at the stage of distribution of primary income (Fig. 21).

Rice. 21. Financial relations at the stage of distribution of primary income

Financial relations, arising in connection with money and servicing the circulation of money income, concern almost all individuals and legal entities. Main participants in financial relations are producers of any product (real sector of the economy); budgetary and non-profit organizations; population, state, banks and special financial institutions. In the course of their development, financial relations give rise to credit and exist with them in close relationship (Fig. 22).

Credit relations is part of financial relationships. Both are the result of monetary relations.

Rice. 22. The place of credit and financial relations in the structure of economic relations

Credit relations arise in connection with the provision of money by one entity to another (individuals and/or legal entities) on the terms urgency, repayment, payment.

The main difference between financial and credit relations is the repayment of funds provided on the terms of urgency, repayment and payment.

Usually isolated three stages of income flow, reflecting the formation of primary, secondary and final income.

Primary income are formed as a result of distribution (work, services). The amount of revenue is divided into a fund for compensation of material costs incurred in the production process (cost of raw materials, equipment, rent), the employee and the owner of the means of production. Thus, during the primary distribution, the income of the owners is formed. In addition, the following circumstance should be taken into account: indirect taxes established by the state are included in primary income. Therefore, at this stage, government revenues are partially generated.

At the second stage, from primary income Direct taxes and insurance payments are paid, and assistance is provided to the disabled. From the newly created funds of funds, in particular, from various levels of government, funds are paid representing the expenses of workers in the non-material sphere, doctors, teachers, notaries, office workers, military personnel, etc.

As a result of this process, a new income structure is formed. It consists of secondary incomes formed during the redistribution of primary incomes.

But doctors, teachers, and employees, in turn, pay taxes and contribute insurance premiums. These taxes and contributions form funds intended for certain payments. As a result of such payments, tertiary income may be generated. The chain of their formation is almost impossible to trace. The movement of these incomes is a very complex process.

The result of this process, its third final stage, is the formation of final income. They are used to purchase goods and services. A certain portion of income is saved.

The amount of primary income for a certain period necessarily equals the amount of final income plus savings. Distribution and redistribution of income means the formation of a new structure. Moreover, this structure reflects the economic relations (connections) between economic structures and the state.

At each stage of income generation, funds of funds are formed, i.e. finance. Consequently, it is finance that mediates the processes of distribution and redistribution of income.

The result of the functioning of the financial system is a changed structure of income.

Distribution process added(newly created) cost through is shown in Fig. 1. As can be seen from Fig. 1, as a result of the distribution of primary income of owners (entrepreneurs and workers), the income of workers in the non-material sphere is formed. However, it should be taken into account that in reality distribution processes are much more complex than reflected in Fig. 1. Part of the income of workers in the material sphere is distributed in favor of workers in the non-material sphere directly through the consumption by the former of services provided by the latter. This is how the income of lawyers, notaries, security guards, etc. is formed. In turn, they pay taxes to budgets participating in subsequent redistributions of income.

Finance as monetary relations arises at the stage of distribution. But they are the most important link in everything and have the strongest influence on it.

Rice. 1. Distribution of added value through the financial system

Control function

Control function consists of constant monitoring of the completeness, accuracy and timeliness of receipt of income and implementation of expenses from all levels and. This function manifests itself in any financial transaction. All these operations must not only be economically feasible, but also not contradict the existing legal norms. The control function of finance is expressed in the formation of funds of funds (budgets and extra-budgetary funds) in accordance with the declared goals and according to the standards established by the legislature. This function involves not only monitoring processes occurring in financial sector, but their timely adjustment in accordance with the norms of current legislation.

The practical expression of the control function of finance is the system. This control ensures the validity of the formation of budget system revenues and the expenditure of budgetary funds and extra-budgetary funds. Financial control is divided into preliminary, current and subsequent. Preliminary control is carried out at the stage of developing forecasts of budget revenues and expenses and preparing draft budgets. Its purpose is to ensure the correctness of budgetary indicators. Current control is responsible for the timeliness and completeness of the collection of planned income and the targeted expenditure of funds. Subsequent control is aimed at verifying the reporting data.

Stimulating function

Stimulating function finance is associated with the impact on processes occurring in real economy. Thus, during the formation of budget revenues, provisions can be made tax benefits for certain industries. The purpose of these incentives is to accelerate the growth rate of technologically advanced products. In addition, budgets provide for expenditures that can ensure structural restructuring of the economy through financial support high technology and the most competitive industries.

Finance, understood in the broad sense of the word, includes all monetary funds, including loans. Therefore, credit relations are part of finance. is the movement of the loan fund.

One can also define credit as a system of economic relations regarding the transfer from one owner to another for temporary use of values (including money). Credit relations have their own specifics. A loan is associated with the transfer of a fund of funds for temporary use on the terms of repayment, urgency, payment, and security. These conditions distinguish credit relationships from other financial relationships.

See also:

The functions of the economic category are its internal properties, which manifest themselves in the process of practical activity

The vast majority of domestic scientists and practitioners recognize that finance has two main functions: distribution and control.

The distribution function is the main one and is manifested in the process of distribution of gross domestic product in the form of the formation of funds of funds and their use for their intended purpose

Various cost instruments can participate in the processes of cost distribution of gross domestic product, in particular finance, credit, prices and tariffs, wages, each of which has its own characteristics and its own history. Finance as an instrument of value distribution stands out among others due to its scale, comprehensive nature and possibilities for active influence on all components of social life.

The genesis and evolution of cost distribution with the help of finance was accompanied by changes in the forms of cost distribution, priorities in the formation and use of financial resources, investment of capital, and the fullness and direction of cash and financial flows. This, in turn, significantly influenced the history of the development of human civilization, the growth of power or decline of states, the creation, distribution and construction of residential goods, the development of production, creative and intellectual achievements, etc.

Finance as a tool for value distribution is used at all stages of social reproduction: production, distribution, exchange and consumption. The distribution of values with the help of finance is significantly influenced by the differentiation of economic property.

Objects of distribution using finance are:

Gross domestic product, i.e. the cost of final products (goods) produced by society over a certain period of time (mainly a year);

National wealth, i.e. the totality of created and accumulated benefits that society has, as well as Natural resources, involved in economic turnover. National wealth is involved in financial transactions only in exceptional cases (wars, disasters, natural disasters, etc.);

External receipts in the form of financial assistance, external government loans, foreign investments, as well as other interstate transfers from foreign countries, international financial institutions and foreign legal entities and individuals.

Subjects of distribution:

State;

Legal entities (business entities of various forms of ownership, level of subordination and location);

Households and individuals;

International organizations;

Other states

Since the object of financial relations is a limited value, and the subjects of distribution are quite numerous, then such relations, of course, have a rather contradictory nature, since each subject strives to keep as many benefits as possible from distribution, but this can only be done at the expense of other subjects who have such same interests. This implies the need to balance the interests of all financial entities. Ansov relations, which can be achieved primarily by establishing optimal proportions for the distribution of gross domestic product. Unfortunately, there are no scientifically established indicators of optimal proportions of the gross domestic product in practice, therefore, to assess the situation, two main macroeconomic indicators are used: level. GDP per capita and growth rates. WWDP.

Volume. GDP per capita is one of the main criteria of social welfare. The World Bank divided countries according to this indicator into four groups:

And group: low-income countries (less than $736 per person);

Group II: countries with lower middle income levels ($736-2935);

Group III: countries with upper-middle income levels (2936 - 9075 US dollars);

Group IV: high-income countries (over $9,076)

Size. GDP per capita varies greatly among countries around the world. In high developed countries it ranges from 25 to 40 thousand US dollars, and in some (mainly Scandinavian countries and Japan) it exceeds this amount. At the end of 2006, they took first place in the ranking in terms of the standard of living of the population. Luxembourg (more than 50 thousand US dollars). Bermuda. Liechtenstein. Norway. Leaders too. USA,. China,. Japan,. Germany UK,. India. In the least developed countries this figure is about $100. In Ukraine. GDP per capita in 2006 was $1,950, which is 10% more than in 2005. According to this ostentatious ranking, Ukraine ranked 131st among 183 countries in the world.

The dynamics of financial relations are characterized by growth rates. GDP: the higher they are, the more the income needs of subjects of financial relations are satisfied. It is well known that even a slight slowdown in income growth rates (regardless of the absolute size of these incomes) is perceived quite negatively by society, and constant income growth creates a favorable socio-political climate in the state.

The mechanism for implementing the distribution function of finance includes several stages: primary distribution, redistribution, secondary distribution

Primary distribution - distribution of added value and the formation of primary income of entities participating in the creation. GDP. Primary incomes at this stage are:

For individuals - wages;

For legal entities - profit;

~. The state has a profit public sector economy, revenues from government services, resources, land, as well as indirect taxes

Redistribution consists of the creation and use of centralized funds. According to the level of centralization, they can be divided into national (state budget and state trust funds), regional (local budgets), departmental (funds created by ministries and departments) and corporate (centralization of part of the income structural divisions corporate associations).

Secondary distribution is the final stage of implementation of the distribution function of finance and provides for the use of national funds for the development of priority sectors of the economy, socio-cultural activities, social protection, defense, management, etc.. The end result redistribution cycle is that one part of the redistributed monetary resources through the mechanism budget financing again moving into the sphere of material production to begin a new cycle of primary distribution followed by redistribution, and the other part - into the sphere of consumption (education, science, culture, health care, keeping out management, defense, etc.).

So, finance, actively participating in the distribution and redistribution of created value, contributes to the transformation of the proportions that arise during its primary distribution into the proportion of final use

In addition to the fact that finance has the inherent property of active participation in the processes of cost distribution as one of its active cost instruments, the control function of finance is equally valuable in its significance.

All resources are exhaustive, quantitatively limited, and therefore scarce (this fully applies to financial resources and capital), so there is an urgent need to control their movement, cash and financial flows for all types of activities, different levels, behind various spheres and links of the financial systems of national states and the global financial system. The implementation of the control function of finance should ensure rational, targeted and efficient use all types of resources, including financial ones, effective management of cash and financial flows, ensuring financial balance, i.e. time synchronization of incoming and outgoing cash flows (income and liabilities).

The control function of finance is due to its objectively inherent ability to quantitatively reflect the movement of financial resources (which occurs in stock and non-stock forms) and to ensure control over compliance with proportions in the distribution of gross domestic product, the correctness of the formation, distribution and use of financial resources of the state and business entities. The control function of financial villages in practice is implemented in the activities of persons who carry out financial control in Ukraine. The bodies exercising financial control include:. Ministry of Finance,. State Treasury. State Internal Control and Audit Service. State tax service,. State Customs Committee. Pension Fund,. National compulsory funds social insurance,. Accounts Chamber. Supreme. We're glad. Ukny, etc.. It is thanks to the control function of finance that society controls the completeness and timeliness of the provision of financial resources to various subjects of financial relations.

Some scientists argue that finance also has other functions: regulating, stimulating, reproducing, stabilizing, etc. However, without diminishing the importance of such approaches, it can be argued that finance plays an important role in the process of social reproduction precisely due to its distribution function.

Consequently, the extremely important importance of finance in the life of society is due to the fact that they: ensure the distribution of gross domestic product and the financial needs of legal entities, individuals and the state; carry out the redistribution of financial resources between sectors of the economy, regions, social strata of the population, legal entities and individuals; ensure the circulation of financial resources and the continuous reproduction process, and also exercise control over the processes of formation and use of financial resources both at the state level and at the level of business entities.

The formation and use of financial resources is carried out at two levels: nationwide and at each enterprise. The size and structure of sources for the formation of financial resources on a national scale determine the possibilities for expanded reproduction of the national economy, raising the level of members of society, and increasing state budget revenues. The size of financial resources generated at the enterprise level determines the possibility of implementing the necessary capital investments, increasing working capital, fulfilling all financial obligations, meeting social needs.

The initial formation of financial resources occurs at the time of establishment of the enterprise, when the authorized capital is formed. Its sources, depending on the organizational and legal forms of management, are: share capital, share contributions of members of cooperatives, industry financial resources (while maintaining industry structures), long-term loan, budget resources. The size of the authorized capital shows the size of those funds - fixed and working capital - that are invested in the production process.

The main source of financial resources in operating enterprises is the cost of products sold (services provided), various parts of which, in the process of revenue distribution, take the form of cash income and savings. Financial resources are formed mainly from profits (from core and other activities) and depreciation charges. Along with them, sources of financial resources also include:

-- proceeds from the sale of disposed assets,
-- stable liabilities,
-- various targeted revenues (fees for maintaining children in preschool institutions, etc.),
-- mobilization of internal resources in construction, etc.

The processes of privatization of state property that are unfolding everywhere lead to the appearance and will play an important role of another source of financial resources - shares and other contributions of members of the labor collective.

Significant financial resources, especially for newly created and reconstructed enterprises, can be mobilized in the financial market. The forms of their mobilization are: sale of shares, bonds and other types of securities issued by a given enterprise, credit investments.

Before switching to market conditions management, significant financial resources of the enterprise were obtained on the basis of intra-industry redistribution of funds and budget financing. However, the principles market management, the introduction of commercial principles into the activities of enterprises naturally required fundamentally different approaches to the formation of financial resources. Orientation towards initiative and entrepreneurship, full financial responsibility led to two major changes in the field of financial relations of enterprises with other structures: firstly, the development of insurance operations, and, secondly, a significant reduction in the scope of gratuitous appropriations. In this regard, during the transition to market principles of economic management, insurance compensation payments received from insurance companies will gradually play an increasingly greater role in the composition of financial resources formed in the order of redistribution, and budget and industry financial sources will gradually play a lesser role. Enterprises will be able to receive financial resources: from associations and concerns of which they belong (only if this is provided for by the mechanism for using the corresponding monetary funds); from higher organizations - while maintaining industry structures; from government bodies - in the form of budget subsidies for a strictly limited list of costs. But in the conditions of functioning of the securities market, such types of financial resources will appear as dividends and interest on securities of other issuers, as well as profit from financial transactions.

The use of financial resources is carried out by the enterprise in many areas, the main of which are:

-- payments to the authorities of the financial and banking system, conditioned by the fulfillment of financial obligations. These include; tax payments to the budget, payment of interest to banks for using loans, repayment of previously taken loans, insurance payments, etc.;
-- investment of own funds in capital costs (reinvestment) associated with the expansion of production and its technical renewal, transition to new advanced technologies, use of know-how, etc.;
-- investment of financial resources in securities purchased on the market: shares and bonds of other companies, usually closely associated with cooperative supplies with a given enterprise, in government loans, etc.;
-- direction of financial resources for the formation of monetary funds of an incentive and social nature;
-- use of financial resources for charitable purposes, sponsorship, etc.

With the transition to market economic principles, not only the role of enterprise managers and members of the boards of joint-stock companies, but also financial services, which played a secondary role in the conditions of administrative-command management methods, increases unusually. Finding financial sources for the development of an enterprise, directions for the most effective investment of financial resources, transactions with securities and other issues of financial management become fundamental for the financial services of enterprises in a market economy. The essence of financial management lies in such an organization of financial management on the part of the relevant services, which allows you to attract additional financial resources at the most favorable conditions, invest them with the greatest effect, carry out profitable transactions in the financial market, buying and reselling securities. Achieving success in the field of financial management largely depends on the behavior of financial services employees, in which initiative, the search for unconventional solutions, the scale of operations and justified risk, and business acumen become the main ones.

When mobilizing funds from other owners to cover the costs of their enterprise, financial service employees must first of all have a clear understanding of the goals of investing resources and, in accordance with them, make recommendations on forms of raising funds. To cover short-term and medium-term needs for funds, it is advisable to use loans from credit institutions. When making large capital investments in the reconstruction and expansion of an enterprise, you can use the issue of securities. However, such a recommendation can only be given if financiers have thoroughly studied the financial market, analyzed the demand for different types of securities, taken into account possible changes in market conditions and, having weighed all this, are nevertheless confident in the relatively quick and profitable sale of their securities enterprises.

Planning the amount of current financial needs takes into account the following:

- the real value of the enterprise’s needs in the past period;
- changes in needs in the coming period, based on market conditions and the objectives of the enterprise;
- the risk of an increase or decrease in the need for financial resources in the coming period.

Financial relations that arise in the process of formation and use of the financial resources of an enterprise are formed in the process of circulation of its funds, which is mediated by cash flows for various types of its activities.

1. Current activities. The movement of cash associated with the receipt of proceeds from the sale of products, goods, works, services and inventories of production and material resources, receipt of advances, rent, payment of supplier bills, payment wages, settlements with the budget and social funds, receipt and repayment of short-term loans and borrowings for purposes related to current activities, payment of interest on these loans and borrowings, payment and receipt of penalties and pledges.
2. Investment activities. Cash flows related to capital expenditures in connection with the acquisition land plots, buildings and other real estate, equipment, intangible assets and other non-current assets and their sale; with long-term financial investments in other organizations, issuing bonds and other long-term securities.
3. Financial activities. Movement of funds associated with the formation and use of authorized capital, additional capital, distribution and use of profits, long-term and short-term financial investments, sale of corporate securities, obtaining long-term and short-term credits, loans, repayment of receivables and accounts payable non-traditional methods (changes of persons in an obligation, novation, compensation), obtaining and using targeted financing and proceeds, as well as settlements for transactions related to contracts trust management property, simple partnership (joint activity).

Thus, the entire set of financial relations of enterprises associated with the formation and use of financial resources can be conditionally presented in the form of three cash flows, and have clear cost characteristics. Cash flows affect the entire structure balance sheet enterprise, its assets and liabilities, and its financial stability.

The “outflow” of part of an enterprise’s cash flow in the form of payments to budgets and extra-budgetary funds means the non-equivalent withdrawal of these funds from its individual circulation. These funds go through a redistribution phase and take the form not of cash, but of financial flow.

Financial flow is a redistributed part of cash flows (primary income of enterprises) accumulated in the budget or in extra-budgetary (centralized) funds, i.e. in the field of public finance. A synonym for the concept of “financial flow” is “ financial resources" This is part of the cash flows that have gone through the process of accumulation in various centralized state funds (in the budgetary system and in extra-budgetary funds), directed towards targeted financing. (3, pp. 14 - 17)

Part of the proceeds from the sale of products should be used to reimburse material costs and pay for labor. But already from the revenue received, the enterprise accumulates funds (funds) in the form of depreciation charges for fixed assets and intangible assets. They are intended for the acquisition of new necessary property, but before its acquisition they are in the circulation of the enterprise.

At the expense of the proceeds received from the sale of products, cash reserves for upcoming expenses and payments are formed, the composition of which is regulated by the relevant normative document in area accounting and government accounting policies. A repair fund may also be formed, designed to evenly distribute the costs of particularly complex types of repairs of fixed production assets in the cost of production.

The process of distribution is accompanied by a process of redistribution. When paying wages, deduction occurs income tax and contributions to the pension fund, funds are transferred to extra-budgetary funds.

The total amount of paid revenue of the enterprise includes income in the form of profit. The total amount of profit does not immediately participate in money turnover, since a certain part of it is redistributed in the form of tax payments to the budget system. As a result, retained earnings (from previous years and the reporting year) remain in the enterprise’s turnover, representing the amount of net profit, i.e. the difference between the final financial result(gross profit) and the amount of profit used to pay taxes and other payments to the budget.

Then the net profit can be distributed into an accumulation fund, which serves as a source of financing capital investments, and a consumption fund, intended to satisfy various social needs and material incentives. Both of these funds are formed in accordance with the constituent documents, decisions of the general meeting of shareholders or the accounting policies of the enterprise.

A reserve fund can also be formed from net profit. It is formed in accordance with current legislation, constituent documents or accounting policies of the enterprise.

In the process of redistribution, a number of monetary sources are formed that have the nature of funds:

- authorized capital (share capital, authorized fund) - is formed when an enterprise is created at the expense of contributions from the founders (participants) or at the expense of property assigned to the enterprise by the owner. The procedure for its formation (minimum amount, terms of contributions, additional attraction of funds) is regulated by law. The authorized capital is intended for the advance of funds into non-current and current assets.
- targeted financing and revenue from the budget - in cases provided for by relevant laws.
- targeted financing and revenues from industry and intersectoral extra-budgetary funds and from other enterprises and individuals for the implementation of targeted activities.

Cash sources in the form of share premiums, gratuitous receipts that make up the monetary part of additional capital, and reserves for future expenses and payments can participate in the circulation of funds of an enterprise.

In the process of carrying out economic activities, other monetary sources (raised capital) are also involved in the individual circulation of funds of the enterprise in the form of long-term and short-term loans and other loans, and in the form of accounts payable. (3, pp. 18 - 19)

The essence and principles of distribution of financial resources of an enterprise. Functions of finance How financial resources of authorities are distributed

Similar documents

Consider income and expenses

Eliminate unnecessary expenses

Record your main expenses